FileNet Corporation, a provider of enterprise content management (ECM) solutions, has unveiled an ECM compliance management framework intended to help companies reduce the costs and risks of doing business in an era of intensified public scrutiny and regulation. Leveraging the FileNet P8 platform, FileNet's Compliance Framework is designed to manage three critical elements of compliance. First, it helps companies put in place processes to react to changing regulations. Secondly, it provides organizations with the ability to manage content. Finally, the framework can connect with various legacy systems found throughout the enterprise
With organizations under increasing pressure to address evolving requirements created by Sarbanes-Oxley, Basel II, and the Health Insurance Portability and Accountability Act (HIPAA), among other government and industry specific regulations, the FileNet Compliance Framework gives them the ability to integrate compliance policies and practices into their ongoing business processes.
The FileNet Compliance Framework helps to provide consistency across the organization and better control in the management of records and business processes by tracking real-time information on who's done what, where, and across which departments. This helps validate the process of how information was gathered for internal auditors and external regulators, and allows them to see how and why decisions were made. Providing this information in real-time can help reduce risk - and costs - over the long-term and gives organizations the freedom to focus more on their business.
The FileNet Compliance Framework provides an event-driven architecture, which can identify and initiate responses to material events, such as a change in a financial report. Powered by FileNet's Business Process and Content Management capabilities, this functionality allows organizations to define and execute automated, event-driven workflow processes related to changes in records, and other content, including updates made in enterprise applications.
FileNet's Compliance Framework is scheduled for availability during the second quarter of 2004.